The global cryogenic pump market is predicted to grow at a 4.02% CAGR over the forecast period, states the new Market Research Future (MRFR) report. A cryogenic pump or cryopump is a vacuum pump which traps vapors and gases by condensing the same on a cold surface. However, these pumps are effective only on some gases; the effectiveness of the pump depends on the boiling and freezing points of the gas, which are relative to the temperature of the cryogenic pump. The COVID-19 Analysis on Cryogenic Pump Market Size is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic.

Cryogenic pump is a vacuum pump used in cryogenic temperatures to transfer cryogenic liquids. These pumps are also used to transfer such cryogenic fluids between containers or from one container to a point of use. The major types of cryogenic pumps, i.e., long shaft cryogenic pumps efficiently transfer liquids cryogens while minimizing heat leak. The applications of these pumps include the circulation of liquid nitrogen for high temperature superconductors and for synchrotron beamline crystal cooling. The main components of cryogenic pumps include a thermal shield, a condensing array, a cold head cylinder, and a low temperature array.

The MRFR report provides a complete segmental analysis of the cryogenic pump market on the basis of type, gas, and end use.

Based on type, the cryogenic pump market is segmented into positive displacement and centrifugal. Among these, the positive displacement segment will have the largest share in the market over the forecast period.

Based on gas, the cryogenic pump market is segmented into LNG, argon, oxygen, nitrogen, and others. Among these, the LNG segment will dominate the market over the forecast period.

Based on end use, the cryogenic pump market is segmented into electronics, metallurgy, chemicals, energy and power, and others. Among these, the energy and power segment will have the maximum share in the market over the forecast period.

Regional Outlook

Region wise, Asia-Pacific held the largest market share of the global cryogenic pump market in 2017. The growth in this region is driven by industrial development in emerging countries such as China, India, Malaysia, and other Southeast Asian countries. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the growing energy need, focus on renewable generation, and rapid urbanization.